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Omotic General Business

#Ethiopia It was revealed that the district around Gerese in Gamo Zone was taken for investment and land that had not been developed for many years was seized and given to a developer.

It was also indicated that the measures taken against the investment projects that are not developed according to the contract will be strengthened.

The Head of Gamo Zone Investment and Industry Department, Ato Ayele Samuel Olgreen, said that in 1996, an investment project was taken to develop 1500 hectares of land in Gerese District's Koshale area in the field of integrated agriculture.

The project has been in conflict with the local community for not developing it according to the contract and not being able to benefit the local community.

In the discussion held by the Investment Executive Committee of the Zone, Mr. Ayele said that he had agreed to cancel the license of Olgreen Private Limited Liability Company.

Pointing out that the area is suitable for animal husbandry, honey production and other agricultural activities, the official stressed that the project should produce products for export.

The head of the department said that the administration of the zone will continue to take action against projects that have not been developed according to the agreement they have taken for investment in various sectors.

The owner and CEO of Omotic Business Group Mr. Iyasu Somesh said that the project cost 75 million Birr.

He said that he has started the work of registering the capital and purchased more than 40 million birr of farm machinery and acquired more than 300 hectares of land in a short period of time.

Ato Iyasu also explained that the project will create permanent and temporary job opportunities for more than 400 local residents.

In addition to transferring technology to the local community, the project will work with focus to solve the infrastructure problems, the investor said.

The farming work started by reaching a consensus in the presence of religious leaders of the local residents as well as Gamo fathers.

In the opinion of the residents of the area, they stated that the investor who took the land in the past did not perform any useful activities for the farmers or the residents of the area. Since the area has infrastructural problems, they requested the developer who has been given the land to carry out activities that benefit the community.

Information indicates that Omotic General Business Institute is a successful company in various areas of the zone, engaged in several investment sectors.